Steel Wire Market Top Manufacturers Analysis, Size Report and Growth Forecast to 2027
Steel
Wire Market will exhibit a CAGR of 2.7% during the forecast period set between
2019 and 2026, and USD 112.14 billion by 2026, and the Market value as per 2018
was USD 91.33 billion.
Fortune
Business Insights™ in a new report, titled, “Steel Wires Market
Size, Share & Industry Analysis, By Grade (Carbon Steel, Stainless
Steel, and Alloy Steel), By End-Use Industry (Automotive, Construction, Energy,
Agriculture, and Others), and Regional Forecast, 2019-2026.”
Steel Wire Market Drivers and Restraint:
Increasing Number of Dams and Bridge Construction will Add Impetus
to Market
Rise
in construction activities worldwide is a significant factor in promoting the
steel wires market growth. This includes the development of hospitals, schools,
and residential buildings that increased the demand for steel wires. Besides
this, steel wire has applications in the building of large infrastructures such
as towers, dams, bridges, and also for reinforcement and rebar bindings. This
will further aid in the expansion of the market.
However,
the increasing popularity of plastic ropes for various applications may take
over the market for steel ropes, which may challenge the demand for steel
wires. The use of plastic ropes instead of steel ropes reduces the overall
weight of the machine and the axle load. This may divert manufacturers away
from purchasing steel wires and further cause major hindrance to the market
growth in the coming years. Nevertheless, a lead analyst at Fortune Business
Insights say, “Government-supported investments for the construction of
suspension bridges and the implementation of steel wires for such construction
activities will add impetus to the market.”
List of Key Players Covered in the Steel Wire Market Report:
- Bridon-Bekaert
- Optimus Steel
- Kobe Steel,
Ltd.
- JFE Steel
Corporation
- Insteel
Industries
- Byelorussian
Steel Works
- Ferriere Nord
S.p.a.
- ArcelorMittal
- The Heico
Companies
- HBIS Group Co.,
Ltd
- WireCo
WorldGroup, Inc.
- Nippon Steel
- SHAGANG GROUP
Inc.
- Other Players
To gain more insights into the market with a detailed table of
content and figures, Click Here: https://www.fortunebusinessinsights.com/steel-wire-market-102581
Some of the key industry developments in the Steel Wire
Market Include:
February 2018- Optimus Steel acquires Gerdau
SA's Beaumont wire rod mill and two downstream facilities located in Texas for
about USD 92 Million. The Beaumont steel mill has a melting capacity of about
700 KT per year and a rolling capacity of 800 KT per year. The mill produces
coil rebar and wire rods.
March 2019- WireCo. Introduced TURBOLITE M, a new 8
strand steel rope for underground mining applications. The TURBOLITE M offers
better strength to weight ratio and is lightweight than standard steel ropes.
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